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October 2013 - The Tax Adviser

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ESTATES, TRUSTS & GIFTS

Recent Developments in Estate Planning: Part II

This is the second in a two-part article examining developments in estate, gift, and generation-skipping transfer (GST) tax and compliance between June 2012 and May 2013. This part covers developments in estate tax and GST tax.

corporations & shareholders

Earnings and Profits Computation Case Study

It is important for businesses organized and taxed as regular corporations to maintain a current, accurate accounting of their earnings and profits (E&P).

S CORPORATIONS

Current Developments in S Corporations

This article discusses major changes and developments that directly affect S corporations and their tax advisers during the period of this update (July 10, 2012–July 9, 2013).

Tax Clinic

FOREIGN INCOME & TAXPAYERS

Foreign Account Tax Compliance Act Update

GAINS & LOSSES

Qualified Small Business Stock: An Opportunity for Tech Startups

S CORPORATIONS

Sec. 179 Deduction Limitation Applied to S Corps. in a Controlled Group

Debt and Proving Basis in Flowthrough Entities

Chief Counsel Disregards Indemnification Agreements Under Anti-Abuse Rules in Transactions That Result in Disguised Sales

STATE & LOCAL TAXES

States Increase Enforcement of Unclaimed Property Laws

credits against tax

R&D Tax Credits for Food and Beverage Companies

partners & partnerships

Sec. 754 and Ground Leases

procedure & administration

IRS Tightens Penalty Relief

Column

CASE STUDY

Excluding Part of the Gain From the Sale of a Residence

DC CURRENTS

“At Least You Still Have Your Identity”

NEWS NOTES

Sec. 199 Deduction and Contract Manufacturing Arrangements: Who Gets the Deduction?

IRS Postpones FATCA Deadlines for Six Months, Posts Draft FATCA Report Form

IRS Clarifies Who Is Subject to 50% Limit on Meal and Entertainment Expenses

Draft Net Investment Income Tax Form Posted

TAX PRACTICE & PROCEDURES

IRS Tackles Inefficiency in Its Examinations of Large Taxpayers

Gambling Gains for Nonresidents Now the Same as for U.S. Residents

FATCA Withholding on Payments to Nonfinancial Foreign Entities: A Broad New Requirement

CPAs and Privileged Communications

TAX TRENDS

Taxpayer in Trade or Business of Being a “Private Attorney General”

Foreign Citizen Denied Refund of Erroneously Withheld Taxes

TAX PRACTICE MANAGEMENT

2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar projects

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

Prop. regs. issued on new qualified tips deduction

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property